You can probably find a credit union that would do a cash out refinance for maybe 70% LTV and if the property is valued at 230-250K you could possibly put 161-175K cash in your pocket keep the rental in Toole and go buy a few properties in Florida or wherever you decide to buy.All depends on how much you want to leverage yourself out.

Or you may overlook a major issue.

Plus now your credit is in the crapper and you can't get another vehicle.

 I just had four consecutive applicants apply for, pay for their credit check,  pass screening, and then decline an one bedroom with den  apartment..

There is also currently a new 4 BR septic being installed, and there is also an in-law apartment downstairs.I estimated repairs at $20,000 by experience I've had in the past doing construction and home improvement and I can also probably do 90% of the work myself unless there are plumbing,electrical, foundation or other major issues beyond my skill set.I used zillow's comp tool to give me an estimate of what the house is worth and zillow says $365,933, which seems a bit crazy to me but who knows.

The majority of investors who lost everything must have pulled equity out if the inflated properties to buy more.

They have average credit scores.

It seems that the majority of homes in upcoming neighborhoods that would make a potentially good flips are competitively priced to what homes post flip are.

They have perfect credit scores 830 and 790 ( I received the credit reports) (They are a retired couple 69 and 62 no children). 

You can use a line of credit to perform a majority of the rehab and then pay it off once you refinance.